Newcastle companies forging the way forward on renewables and onshore manufacturing
The Newcastle-based investment fund, Melt Ventures, is making a splash, having launched one of Australia’s only start-up funds dedicated to manufacturing hardware.
Established by alumnus Trent Bagnall (Bachelor of Environmental Science, 1994) and alumna Steph Hinds (Bachelor of Commerce, 2003), Melt Ventures has already helped twelve local companies to boost their operations and establish their foothold as large-scale employers of the future.
“Investment in manufacturing in this region is important for innovation but also because the Hunter boasts some of Australia’s largest coal-fired power stations earmarked for closure over the next ten years. There is huge potential to transition these workforces to sectors such as advanced manufacturing,” explains Trent Bagnall, founding partner of Melt Ventures.
Turning the tide on investment in manufacturing in Australia, Melt Ventures invests in emerging Australian-based companies who are “building something remarkable” in industries such as:
- energy
- agriculture
- Internet of Things (interconnected computing devices that send and receive data)
- advanced manufacturing.
The Fund also focuses on clean energy projects with 50% of recipients achieving positive social or environmental outcomes such as MGA Thermal’s ground-breaking energy storage solutions.
Newcastle-based MGA Thermal has been a leading hand in the Hunter’s transition to a future beyond coal, and a beneficiary of Melt Venture’s Fund.
Using technology unearthed by a team of engineers at the University of Newcastle, their thermal energy storage solutions were also recently awarded Translation Hero the InnovationAus 2022 Awards for Excellence.
Honorary Professor Erich Kisi, CEO of MGA Thermal and alumnus (Bachelor of Metallurgy 1985 and PhD 1988) said in an article by the Newcastle Herald that the funding injection from Melt Ventures has helped with team expansion and the development of automated production to keep up with the growing product demand.
“It is exciting to see the incredible impact these entrepreneurial members of our alumni community are making in our region,” said Brian Kelly, Pro Vice-Chancellor (Research), University of Newcastle.
"The aspirations of Melt Ventures closely align with the University of Newcastle’s strategic priorities including harnessing our regions’ innovative spirit to help grow current industries and drive investment into the future.
"The University also supports a move towards a sustainable future with solutions for the use of natural resources. We look forward to following the success of the start-ups supported by this Fund.”
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